Week 21: May 24 Investment Moves
- Today's Market condition @ 3:50 pm (EST)
- May 24 Options Trades
- Ether Spot ETF - Approved. Coming Soon
- IM Academy - Another bad training program.
Today Market condition @ 3:50 pm (EST)
I had to wait to post today because I had an open position on NVDA. I wanted to wait to see if it was going to get better. It did not and hence the post was not within the FIRST HOUR of trading today.
May 24 Options Trades
Here are my trades as of 3:45pm (EST)
I took a loss (max loss) on the Iron Condor using NVDA. To be honest, I did not think it was going to move up all week. I even adjusted the trade, and still lost money. This is the risk of trading. You're not going to always get it right. Sometimes you use your gut feeling and it is still wrong. Sometimes you play risky and it is good against you. You have to continue to stick to your trading plan. While I'm not happy with the loss, I know that I don't always take bets like this, and more often my winners will cover the losers. Over
Ether Spot ETF - Approved. Coming Soon
Here is the update some of us have been waiting for. Since Monday, rumors of the ETF were making the rounds and caused ETHER to move up this week.
https://www.cnbc.com/2024/05/23/sec-approves-rule-change-to-allow-creation-of-ether-etfs.html
When it comes to investing in digital assets, I would say owning the top 2 coins is the best way to good. Sure, there might be other coins that will outperform, but might be riskier. That is similar to investing in Apple vs a smaller "ALTERNATE" choice. ALT coins are higher risk and I don't recommend owning them.
Current price on ETH
IM Academy - Another bad training program.
In the world of sales pitches around learning how to trade stock, FOREX, options, Digital Asset, Real Estate Flipping, etc, there is IM Academy. They use MLM-like structures to fuel their growth. However, there isn't much about how good the training is or that folks can make money "trading".
The sad truth is trading produces very few winners. It is a small set of people that will be successful as a trader, hence why ETF index investing is the best way to go. This story has been told many times over the last 50+ years and will not change any time soon.
The bottom line is there is a reason why I post my trades as I make them. I don't post winners from the past or select the trades I talk about. I like to post what option trades I made that day. A good trader will show what I doing as I make the trade.